Cash Flows from Operating Activities—Indirect MethodStaley Inc. reported the following data:Net income$480,300Depreciation expense69,400Loss on disposal of equipment37,600Increase in accounts receivable10,300Increase in accounts payable10,300Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments. Staley Inc.Statement of Cash Flows (partial)Cash flows from operating activities: Net income $fill in the blank 2 Adjustments to reconcile net income to net cash flow from operating activities: Depreciation fill in the blank 4 Loss on disposal of equipment fill in the blank 6 Changes in current operating assets and liabilities: Increase in accounts receivable fill in the blank 8 Increase in accounts payable fill in the blank 10 Net cash flow from operating activities $

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Answered: Cash Flows from Operating…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter15: Statement Of Cash Flows

Section: Chapter Questions

Problem 5E: Cash flows from operating activitiesindirect method The net income reported on the income statement...

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Cash Flows from Operating Activities—Indirect Method

Staley Inc. reported the following data:

Net income	$480,300
Depreciation expense	69,400
Loss on disposal of equipment	37,600
Increase in accounts receivable	10,300
Increase in accounts payable	10,300

Prepare the Cash Flows from Operating Activities section of the statement of cash flows, using the indirect method. Use the minus sign to indicate cash out flows, cash payments, decreases in cash, or any negative adjustments.


Staley Inc.
Statement of Cash Flows (partial)
Cash flows from operating activities:
Net income	$fill in the blank 2
Adjustments to reconcile net income to net cash flow from operating activities:
Depreciation	fill in the blank 4
Loss on disposal of equipment	fill in the blank 6
Changes in current operating assets and liabilities:
Increase in accounts receivable	fill in the blank 8
Increase in accounts payable	fill in the blank 10
Net cash flow from operating activities		$

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